CUCK HERE TO REVIEW LEARNING OBECTIVES QUESTION 1 Partially correct Mark 99 00 out of 114 oo PAag question Stockholders' Equity: Transactions and Balance sheet Presentation The stockholders equity accounts of Windham Corporation at January 1 appear below. 8 Percent preferred stock, $25 par value, 50,000 shares authorized: 6,800 shares issued and outstanding $170,000 Common stock, $10 par value, 200,000 shares authorized 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 issued 35,000 shares of common stock for S17 cash per share. 23 Purchased 10,000 shares of common stock as treasurystock at s19 per share. Mar. 14 sold one-half of the treasury shares acquired January 23 for $21 per share. July 15 issued 3,500 shares of preferred stock in exchange for equipment with a fair market value of $128,000. Now. 15 sold 2,000 of the treasury shares acquired January 23 for s24 per share. Dec 31 closed the net income of $59,000 to the Retained Earnings account Required a. Set up accounts for the stockholders' equity accounts as of the beginning of the year and enter the January 1 balances. HINT: Complete part b. below prior to entering T-account data. Preferred Stock Cash